Stakeholders explore N59tr real estate investment for higher returns

The Guardian learnt that although real estate investment is not admissible as a part of the paid-up capital in the ongoing exercise, insurers perceive property as another investment haven.

The likes of LASACO Assurance Plc, Cornerstone Insurance Plc, Anchor Insurance Plc, Royal Exchange Plc, among others, are already planning for post-recapitalisation, and looking towards the housing sector, just as AXA Mansard Insurance Plc, AllCO Insurance Plc are also gearing up. Although they are planning to sell now to resolve a short-term challenge, which borders on capitalisation, they are mooting the idea of reinvesting in that market after the conclusion of recapitalisation exercise.

In the years ahead, he said, the firm would be a major player in the hospitality and the real estate industry.

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